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EIB to Allocate 250 Million EUR for Road Infrastructure

The Minister of Regional Development and Infrastructure of Georgia Maia Tskitishvili met with the European Investment Bank (EIB) representative in South Caucasus, Sebastian Husse de Sampin, Deputy Head of Strategic Roads Department Liz Waidner and Mission representatives.

At the working meeting, the sides discussed about the ongoing projects of EIB financing and details of future cooperation in the framework of “Georgian Transport Communication Project (II). Additional 250 million EUR will be allocated for the plan.

The European Investment Bank has already allocated 500 million euros in the frames of two agreements of the Georgian Transport Communication Project. Within  these financing agreements, construction of Grigoleti-Cholokhi 14 km is planner, as well as Chumatleti-Khevi on Rikoti sections (with World Bank co-financing) and Ubisa- Shorapani parts.

It was noted at the meeting that the implementation of these projects will reduce the time required for transportation, improve traffic safety, promote tourism and international travel.